CEG looking for new Albany digs

The Center for Economic Growth is looking for a new location somewhere in the city of Albany.

Robert Blackman, the chairman of the CEG board, told those who attended a Dec. 13 board meeting that CEG will be moving to new offices next year “exclusively within the Albany city limits,” according to minutes from the meeting. The non-profit is currently located at 63 State St. in downtown Albany.

CEG does not own the 5,600 square-foot building.

F. Michael Tucker, the CEO of the economic development organization, said it is believed that any new location will cut CEG’s utility bill in half.

CEG is located in a Victorian Gothic style bank building that was built in 1890, according to city records.

The building is assessed at $375,000 and last sold for $790,000 in 1994 to Fleet Bank, city records show. Fleet Bank was acquired by Bank of America in 2004. Fleet Bank acquired the building from Chemical Bank.

CEG moved to the State Street location in 2002 from its previous offices on Broadway. It spent $150,000 at the time to refurbish the space, which had housed the Albany Institute of History & Art during the museum’s own refurbishment.